The ISM Manufacturing Index fell to 48.5 in May, down from 48.7 in April. Seven of 18 industries reported growth for the month, down from eleven in April. Furthermore, 57% of manufacturing GDP contracted in May, well above the 41% share recorded in April. Demand conditions continued to be weak on aggregate, but some improvement […]
The post US: ISM Manufacturing Index Contracts for Fourth Consecutive Month in May appeared first on Action Forex.
Key Highlights USD/JPY started a fresh decline below the 144.00 level. A connecting bullish trend line is forming with support at 143.40 on the 4-hour chart. EUR/USD is now gaining pace and might clear the Read more…
Markets are awaiting today’s US non-farm payrolls release, with little doubt that hiring had slowed meaningfully in May amid heightened tariff threats and elevated uncertainty. The key question now is just how sharp the slowdown Read more…
Kansas City Fed President Jeff Schmid acknowledged in a speech overnight that monetary theory may suggest to “looking through a one-time price shock”, he would be “uncomfortable staking the Fed’s reputation and credibility on theory Read more…